If Japan’s latest quarterly rate were maintained for a full year, the economy would grow 3.7%
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Japan is heavily reliant on its exports so growth overseas could bode well for its recovery.
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The French and German economies both grew by 0.3% between April and June, bringing to an end recessions in Europe’s largest economies that have lasted a year. Analysts had not expected the data, suggesting recovery could be faster than previously expected.

And Hong Kong recorded growth of 3.3% in the three months from April to June. That data was also better than had been expected, with the government subsequently increasing its forecast for growth in the whole year.

The global economic recovery seems to be taking shape more quickly than anticipated. However, we are still far from in the clear. The risks to short term economic recovery are still great. And the largest long term economic problems for the USA (massive federal debt, huge consumer debt [both the government and the people living far beyond their means] and an very expensive and harmful health care system) have not been addressed. If we are very very lucky the increased saving rate in the last 6 months will continue but it is very questionable if that will continue.